Businessman Mcebisi Rudolf Mlozi, 48, appeared in the Stutterheim Magistrate’s Court on Monday for alleged fraud amounting to R92m.

Mlozi is a director of Kwane Capital. His co-accused, Balisa King Socikwa, 57, is a former Amahlathi local municipality manager.

Eastern Cape Hawks officers led a multidisciplinary task team that pounced on the two in the early hours of Sunday morning – Mlozi in Qumbu, in the Eastern Cape, and Socikwa in Sandton, Johannesburg.

Mlozi was granted R50,000 bail, while Socikwa is out on R30,000 bail.